PensionDanmark Pensionsforsikringsaktieselskab reduced its position in shares of DoorDash, Inc. (NASDAQ:DASH – Free Report) by 71.7% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 53,824 shares of the company’s stock after selling 136,338 shares during the quarter. PensionDanmark Pensionsforsikringsaktieselskab’s holdings in DoorDash were worth $9,932,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently modified their holdings of DASH. CYBER HORNET ETFs LLC raised its stake in shares of DoorDash by 6.5% during the fourth quarter. CYBER HORNET ETFs LLC now owns 979 shares of the company’s stock valued at $222,000 after acquiring an additional 60 shares during the last quarter. Vise Technologies Inc. grew its stake in shares of DoorDash by 1.8% in the fourth quarter. Vise Technologies Inc. now owns 3,517 shares of the company’s stock worth $796,000 after purchasing an additional 63 shares during the last quarter. Sunbelt Securities Inc. grew its stake in shares of DoorDash by 124.1% in the third quarter. Sunbelt Securities Inc. now owns 121 shares of the company’s stock worth $33,000 after purchasing an additional 67 shares during the last quarter. AXS Investments LLC increased its holdings in DoorDash by 1.3% during the 4th quarter. AXS Investments LLC now owns 5,438 shares of the company’s stock valued at $1,232,000 after purchasing an additional 69 shares during the period. Finally, Mutual Advisors LLC increased its holdings in DoorDash by 3.1% during the 4th quarter. Mutual Advisors LLC now owns 2,371 shares of the company’s stock valued at $537,000 after purchasing an additional 71 shares during the period. Hedge funds and other institutional investors own 90.64% of the company’s stock.
DoorDash Trading Up 1.4%
NASDAQ DASH opened at $216.26 on Friday. The firm has a market capitalization of $94.23 billion, a PE ratio of 113.23 and a beta of 1.78. The stock’s 50 day moving average is $180.65 and its 200 day moving average is $174.77. DoorDash, Inc. has a twelve month low of $143.30 and a twelve month high of $285.50. The company has a quick ratio of 1.43, a current ratio of 1.37 and a debt-to-equity ratio of 0.27.
Wall Street Analysts Forecast Growth
DASH has been the subject of several research analyst reports. UBS Group increased their price objective on DoorDash from $223.00 to $225.00 and gave the stock a “neutral” rating in a report on Thursday. Rothschild & Co Redburn set a $350.00 target price on DoorDash in a research note on Tuesday, May 12th. The Goldman Sachs Group set a $280.00 price objective on shares of DoorDash in a research report on Thursday, May 7th. Guggenheim restated a “buy” rating and issued a $255.00 price objective on shares of DoorDash in a report on Tuesday, June 23rd. Finally, Cantor Fitzgerald raised their target price on shares of DoorDash from $230.00 to $260.00 and gave the stock an “overweight” rating in a research report on Thursday. Twenty-three equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, DoorDash currently has a consensus rating of “Moderate Buy” and an average price target of $253.50.
View Our Latest Stock Analysis on DASH
Key DoorDash News
Here are the key news stories impacting DoorDash this week:
- Positive Sentiment: DoorDash’s second-quarter revenue increased 35.6% year over year to $4.45 billion, exceeding the $4.34 billion consensus estimate. Growth in orders, marketplaces, memberships and the Deliveroo acquisition supported the top-line beat. DoorDash Q2 Earnings Miss on Higher R&D Costs, Revenue Beat
- Positive Sentiment: Management issued stronger-than-expected third-quarter guidance, indicating that demand for food, grocery and convenience delivery remains resilient. The company also said improving growth and unit economics are helping fund investments in DashPass, merchant services, artificial intelligence and autonomous delivery. DoorDash Issues Strong Guidance as Delivery Demand Keeps Rising
- Positive Sentiment: DoorDash received FAA approval to operate commercial air-carrier services in Charlotte, clearing a regulatory hurdle for drone deliveries. The initiative could eventually improve delivery speed and economics, although its financial contribution is likely longer term. DoorDash Cleared for Takeoff with FAA Air Carrier Approval
- Positive Sentiment: Several analysts raised their price targets: Cantor Fitzgerald increased its target to $260 and maintained an overweight rating, while Needham reiterated a buy rating with a $265 target. Barclays also lifted its target to $230, though it retained an equal-weight rating. DoorDash Given New Price Target at Barclays
- Neutral Sentiment: DoorDash is positioning artificial intelligence as a growth and efficiency driver, but management said AI-generated traffic is still limited. Autonomous delivery robot deployment also faces practical challenges involving charging, loading and complex pickups. DoorDash Faces Challenges Scaling Its Dot Delivery Robot
- Negative Sentiment: Adjusted earnings of $0.46 per share fell short of expectations and declined from $0.65 a year earlier. Higher research-and-development spending is pressuring near-term profitability as DoorDash invests in technology and expansion. DoorDash Q2 Earnings Miss Estimates
- Negative Sentiment: Director Stanley Tang sold 67,693 shares worth approximately $13.6 million under a pre-arranged Rule 10b5-1 plan. While scheduled insider sales do not necessarily signal deteriorating fundamentals, the transaction reduced his position by roughly 63%. Stanley Tang Sells DoorDash Shares
Insider Transactions at DoorDash
In related news, CFO Ravi Inukonda sold 19,095 shares of the business’s stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $188.04, for a total transaction of $3,590,623.80. Following the sale, the chief financial officer owned 252,443 shares of the company’s stock, valued at $47,469,381.72. The trade was a 7.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Shona L. Brown sold 582 shares of the company’s stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $177.06, for a total transaction of $103,048.92. Following the completion of the sale, the director owned 31,156 shares in the company, valued at approximately $5,516,481.36. This trade represents a 1.83% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 142,620 shares of company stock worth $26,822,778. 5.28% of the stock is owned by insiders.
DoorDash Profile
DoorDash, Inc operates a technology-driven logistics and food-delivery marketplace that connects consumers, merchants and independent delivery contractors. The company’s core service enables customers to order from local restaurants and retailers through its app and website while DoorDash handles last-mile fulfillment via its network of drivers, known as “Dashers.” Over time the platform has broadened beyond restaurant deliveries to include groceries, convenience items and retail deliveries, positioning DoorDash as a broader on-demand logistics provider for consumer goods.
In addition to its marketplace, DoorDash offers a suite of products and services for consumers and businesses.
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